Summary
- Eric Balchunas mentioned the possibility of Litecoin (LTC) becoming the first altcoin ETF of the year.
- The United States Securities and Exchange Commission (SEC) considers Litecoin a commodity.
- The appointment of a new SEC chairman is expected to reduce the likelihood of the Litecoin ETF being withdrawn.
Eric Balchunas, Bloomberg's senior ETF analyst, stated on the 16th (local time) via X (formerly Twitter) that "Litecoin (LTC) could be the first altcoin exchange-traded fund (ETF) to be launched this year," adding that "the United States Securities and Exchange Commission (SEC) has commented on the S-1 (securities registration statement), and Litecoin is considered a commodity."
He further added, "With a new SEC chairman set to take office, I see no reason for the Litecoin ETF to be withdrawn."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
